Taking advantage of the elderly and their finances is nothing new, unfortunately, and is becoming more and more prevalent. In fact, according to MoneyNews.com, elder fraud costs older adults more than $2.9 billion per year. One particularly disturbing trend is that of a perpetrator calling an elderly victim, posing as a grandchild in crisis and begging for money. What grandparent could resist such a plea?
At Visiting Angels, we’ve made it our mission to care for the elderly, including protecting them from elder fraud. Your family can help by being vigilant to the following red flags, and sharing them with your senior loved ones.
Beware of phone callers who:
- Promise you can win or make money easily
- Demand that you act immediately or you will miss out on a big opportunity
- Refuse to send information until money changes hands
- Attempt to scare you into buying something
- Insist on that you wire money for help or other reasons
- Refuse to stop calling after being asked not to call again
An older person may be especially at risk for elder fraud if he or she:
- Receives lots of mail for contests or “free” items
- Gets frequent calls from strangers offering great deals or asking for charitable contributions
- Makes repeated payments to companies in other states or countries
- Has difficulty finding money to pay for bills or groceries
If your elderly loved one struggles with comprehending these risks, having a trusted caregiver or companion on hand can greatly reduce the chance of him or her becoming a victim of fraud. Visiting Angels is locally owned and operated, CAHSAH-certified, and all of our caregivers are not only thoroughly screened, background-checked, bonded and insured, but are fully trained, experienced in senior care, and deeply compassionate. Help keep your senior loved one safe; contact us today.